The venture arm of the KuCoin cryptocurrency exchange announced the creation of a $100 million fund to finance projects focused on building metaverses.
#KuCoin Labs Launches $100 Million Fund To Empower the #Metaverse Ecosystem
➡️ https://t.co/zNJIrmbCnX pic.twitter.com/YyNJ54fAAl
— KUCOIN (@kucoincom) November 17, 2021
The funds will go to early-stage startups from developing economies, with a primary focus on Africa and South America.
Alongside metaverses, the fund will focus on supporting projects in the areas of GameFi, NFT and dapps. Part of the funding will go to educational initiatives.
Participants in the KuCoin metaverse fund can expect:
● assistance with launching the project;
● investments on the primary market;
● branding and marketing support;
● development of a go-to-market strategy.
announced the launch of a $100 million fund to build an NFT-based metaverse.
Earlier, backed a $100 million fund from the investment company Sfermion, also focused on the metaverse. In the same period, The Sandbox platform raised $93 million from Vision Fund 2 (SoftBank) and other investors for similar purposes.
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